AHMSA sale remains unresolved after CIESA bids US$1.4 billion

The bankruptcy auction for the assets of Altos Hornos de México (AHMSA) and Minera del Norte (Minosa) remains unresolved following a bidding session on September 25. Construcciones e Ingenierías Electromecánicas (CIESA) emerged as a leading bidder with an offer of US$1.4 billion. However, the company has yet to prove its financial solvency or provide the required security deposit, estimated between US$53.6 million and US$56.3 million, by the October 9 deadline.

In response to the CIESA bid, a consortium consisting of Cargill and Grupo Afirme has requested a 90-day period to prepare a formal proposal. This request has met resistance from labor groups, who have petitioned the court to reduce this period to 30 days to avoid further delays in the company’s reactivation.

Local legislators have advised caution, noting that the complex infrastructure and equipment at the Monclova steelworks require significant recovery before operations can resume. While CIESA has proposed additional regional infrastructure projects, including water and educational facilities, the judicial process continues to evaluate the solvency and technical capacity of all interested parties.